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Wednesday, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
 Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but involve relatively small steps or lack specifics to support a meaningful improvement in the short-term. There are entrenched structural issues affecting the performance of the power sector of India and the solution would require a sustained and disciplined policy focus.
Fitch Ratings further said in its latest report that, the Indian budget for FY15, the finance minister announced several measures for the power sector. These include an extension of the tax holiday for power projects to March 2017 from March 2015, which we consider to be positive for investment activity. The budget also called for the provision of adequate quantity of coal to power plants commissioned by March 2015. However, the budget lacked very specific measures detailing how this will be achieved.
Fitch believes that it will not be possible to raise the production of coal significantly within a year. Aside from inadequate domestic production, infrastructure bottlenecks such as rail infrastructure also continue to act as a constraint to ensuring adequate coal supplies to power plants. Among the announced measures is the rationalisation of coal linkages to reduce transportation costs of coal; while this is a good measure, we believe such a reallocation of coal resources would have operational issues and can take some time to achieve.
Domestic coal production is much lower than the requirements of the power sector, and hence we think the coal shortage at various power plants will continue. India's total coal based power capacity at April 2014 was around 140 gigawatts (GW). This is expected to increase by around 15GW per year, which would require an additional 60 million tonnes of coal. There needs to be a sustained and long term plan in order to consistently increase domestic coal production.
The new administration has intensified pressure on Coal India Limited to improve its coal delivery. At the same time, the agency understands the government may revive coal pooling (i.e. pooled prices by combining both domestic and imported coal) as the country will have to import higher quantities of coal to support demand given that domestic production may be slow to ramp-up.
India also has around 20GW of gas based power plants which are severely affected due to the low availability of domestic gas. The budget also focuses on the renewable sector - most notably solar - for which there is an allocation of INR10bn for setting up solar plants in a few states and solar power driven agricultural pump sets.
The entire ecosystem of the power sector - from generation to distribution - needs to be strengthened. The financial health of the various state utilities needs to be improved through tariff rationalization and by addressing transmission and distribution losses.
About Fitch Ratings
For 100 years, Fitch Ratings has been making the future a little more predictable through independent and prospective credit ratings, commentary and research. Our global expertise draws on local market knowledge and spans the fixed-income universe. The additional context, perspective and insights we provide have helped the world’s investors fund a century of growth.
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Sunday, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
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Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
Friday, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
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- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
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